Oil-producing countries are nations that extract and export crude oil, a vital energy resource used globally for fuel, heating, and manufacturing. Major oil producers include countries in the Middle East, such as Saudi Arabia and Iraq, as well as Venezuela in South America and Russia in Europe. These countries often rely heavily on oil revenues to support their economies. The production of oil can significantly impact a country's economy and political landscape. Oil prices fluctuate based on global demand, which can lead to economic booms or downturns. Additionally, oil-producing countries may form alliances, such as OPEC (Organization of the Petroleum Exporting Countries), to manage production levels and stabilize prices.